Assignment one Organisations and environment
2. Discuss how an organisation’s competitive advantage can be enhanced with the introduction of new technology. In this day and age with almost all markets being highly competitive it is at top of businesses agendas to ensure they have a firm competitive advantage. 1 .The term competitive advantage is the ability gained through attributes and resources to perform at a higher level than others in the same industry or market. If a business can ensure that they have a competitive advantage it enables them to be one step ahead of their competition, this is curtail for a business’s success especial given the economic climate as it stands. One of the main examples of competitive advantage is pricing/cost. We see these most frequently in supermarkets, as most firms compete for the lowest prices this is because their consumers all want to find the best price for the product they want to buy. We also see this in other markets as consumers always look for a better offer therefore the firm with the lowest prices generally has the higher demand. Another example is quality. When consumers look for witch product or serves to purchase quality is key element witch influence their diction. We see this on the high street time and time again as consumers consistently go to big brand names such as apple because they know that quality will be ensured in their purchase. As a result of this apple or able to boost prices and in turn create a higher profit margin for products. From these simple examples we can see how important competitive advantage is because of the additional finical gain it can bring to a business. These examples are basic as a competitive advantage can come in many forms as long as it befits a business and their competitors do not have it. A competitive advantage can prove extremely important to a business, for this reason it is just as important to maintain the advantage and enhance it if possible. One way to do this...
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